CHICAGO, ILLINOIS, US — Archer Daniels Midland Co. (ADM) on Aug. 24 announced that it has completed its previously announced secondary block trade of approximately $550 million in Wilmar ordinary shares.

“We are exceptionally pleased with our longstanding relationship with Wilmar,” said Juan Luciano, chairman and chief executive officer of ADM. “This transaction provides ADM with additional capital while retaining that strong relationship. We have no plans to sell additional Wilmar shares, and look forward to continuing our partnership for years to come.”

Wilmar — one of Asia’s leading agribusiness and packaged food oils companies — is a strategic partner and one of ADM’s largest customers.

ADM first partnered with Wilmar and its affiliated companies in the early 1990s when they jointly built a network of soybean processing operations in China, and ADM has been a significant investor in Wilmar since 1994.

Today, Wilmar is a key component of ADM’s strategy in emerging markets, including Asia Pacific, an important trade partner, and co-owner of joint venture Olenex, a major European provider of specialty oils.

ADM said it expects to use the net proceeds from the transaction for general corporate purposes, which may include, without limitation: meeting its working capital requirements; funding its capital expenditures and possible acquisitions of, or investments in, business and assets; and acquiring outstanding shares of ADM common stock as part of its publicly announced stock repurchase program.

ADM said it will retain at least a 20% equity investment in Wilmar.

The Wilmar ordinary shares sold pursuant in the transaction have not been and will not be registered under the Securities Act of 1933, as amended, or the securities laws of any other jurisdiction and may not be offered or sold in the United States or to, or for the account or benefit of, US persons (as defined in Regulation S) absent registration or an applicable exemption from registration requirements.